Brace for Another Gas Price Hike This Week — Up to ₱1.60/Liter on Gasoline, Blame the Middle East Chaos
Filipino motorists, prepare your wallets: another round of fuel price increases is expected to hit pumps in the first week of March. The Department of Energy and industry sources are projecting gasoline could rise by ₱1.40 to ₱1.60 per liter, while diesel may increase by ₱0.80 to ₱1 per liter.
DOE's own monitoring based on international trading puts the estimates slightly lower — around ₱1.10 per liter for gasoline, ₱0.50 for diesel, and ₱0.90 for kerosene. Final figures will be confirmed after the last trading day once oil companies factor in operating costs and other charges.
If these adjustments push through, it will mark yet another consecutive week of increases. Diesel and kerosene have now recorded nine straight weeks of hikes, while gasoline is approaching its eighth. Over the past two months alone, gasoline has jumped by ₱4.80 per liter, diesel by a staggering ₱7.70, and kerosene by ₱6.70.
The primary driver? The escalating Middle East conflict. The US-Iran tensions, the Strait of Hormuz disruption, new sanctions on vessels carrying Iranian crude, and military activity across the region have all sent global oil markets into a frenzy. Weaker gasoline exports from China and South Korea have further tightened supply.
Oil companies are expected to announce their official adjustments on Monday, with new prices taking effect Tuesday. For jeepney drivers, delivery riders, and everyday commuters, the relentless string of price hikes is becoming an increasingly heavy burden — with no relief in sight as long as the Middle East remains on fire.
Source: PhilNews
